Bloomin’ Brands (NASDAQ:BLMN) Issues Q2 2024 Earnings Guidance

Bloomin’ Brands (NASDAQ:BLMN) updated its second quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.550-0.600 for the period, compared to the consensus EPS estimate of 0.690. The company issued revenue guidance of -. Bloomin’ Brands also updated its FY 2024 guidance to 2.510-2.660 EPS.

Bloomin’ Brands Stock Down 1.0 %

Shares of Bloomin’ Brands stock traded down $0.24 on Wednesday, reaching $23.72. 190,632 shares of the company were exchanged, compared to its average volume of 1,313,607. The company has a current ratio of 0.34, a quick ratio of 0.27 and a debt-to-equity ratio of 1.89. The company has a 50-day moving average of $27.54 and a 200 day moving average of $26.19. Bloomin’ Brands has a one year low of $22.03 and a one year high of $30.13. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 9.85 and a beta of 2.02.

Bloomin’ Brands (NASDAQ:BLMN) last posted its quarterly earnings results on Tuesday, May 7th. The restaurant operator reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05). Bloomin’ Brands had a net margin of 5.30% and a return on equity of 73.67%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the company posted $0.98 EPS. The firm’s revenue was down 4.0% on a year-over-year basis. On average, equities research analysts forecast that Bloomin’ Brands will post 2.55 earnings per share for the current year.

Bloomin’ Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date was Tuesday, March 5th. Bloomin’ Brands’s dividend payout ratio is 37.94%.

Analyst Ratings Changes

A number of research firms have issued reports on BLMN. UBS Group cut their price objective on shares of Bloomin’ Brands from $30.00 to $26.00 and set a neutral rating for the company in a report on Wednesday. JPMorgan Chase & Co. cut shares of Bloomin’ Brands from an overweight rating to a neutral rating and set a $26.00 target price for the company. in a report on Tuesday, January 23rd. Citigroup lifted their price target on Bloomin’ Brands from $25.00 to $29.00 and gave the company a neutral rating in a research note on Thursday, February 15th. BMO Capital Markets lifted their target price on Bloomin’ Brands from $27.00 to $29.00 and gave the stock a market perform rating in a report on Monday, February 26th. Finally, Barclays lifted their target price on shares of Bloomin’ Brands from $31.00 to $32.00 and gave the stock an overweight rating in a research note on Monday, February 26th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $27.90.

About Bloomin’ Brands

Bloomin' Brands, Inc, through its subsidiaries, owns and operates casual, upscale casual, and fine dining restaurants in the United States and internationally. The company operates through two segments, U.S. and International. Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba's Italian Grill, a casual Italian restaurant; Bonefish Grill; and Fleming's Prime Steakhouse & Wine Bar, a contemporary steakhouse.